Peterborough are still searching for a replacement for Darren Ferguson. Photograph: Tony Marshall/Empics

Eddie Howe, the Bournemouth manager, has rejected the opportunity to talk to Peterborough following an approach from the Championship strugglers last night.

Howe, the youngest manager in the Football League at the age of 31, emerged as the favourite to replace Darren Ferguson at London Road after the former Manchester United midfielder left the club by mutual consent yesterday.

Peterborough's director of football, Barry Fry, contacted the League Two leaders' operations director, Neill Blake, last night to request permission to speak to Howe and his assistant, Jason Tindall.

But the Cherries chairman, Eddie Mitchell, met them this morning and revealed that they were committed to the south-coast club.

Mitchell told the Bournemouth Echo: "I met with Eddie and Jason this morning after letting them know of the interest late last night. Eddie, Jason and myself were all very flattered that somebody had taken the trouble to approach us.

"But the circumstances are that Eddie and Jason are keen to see us progress and want to stick with us. Eddie has taken the Peterborough guy's number and has contacted him to says thanks for the interest but that, at this moment in time, both he and Jason are dedicated to working with AFC Bournemouth."

Howe took over at Dean Court in January and ensured the Cherries avoided relegation despite carrying a 17-point deduction following administration, before leading them to the top of League Two this season.